Admin
[OPINION] President Tinubu: Nigerians are starving - Toyin Falola
I am not privy to what Chief Femi Gbajabiamiala, your savvy Chief of Staff, is telling you. There is hunger in the land. Messages have been sent to Aso Rock through the back door. So bad are things now that a new non-political front is emerging in which twelve of us have decided to seek a private conversation with you. When, I don’t know. The outcome, I don’t know. Enough of fake promises. Enough of “we are laying the foundation of a better tomorrow.” If people die today, there is no tomorrow for them.
The terrible idea in Nigeria is to assume that everyone is looking for something when offering advice. No!
Many want their country to succeed. Some even now begin to panic that the Tinubu presidency will discredit the entire Yoruba race.
I have written several times about the conditions of Nigerians and how the situation has not been turning around favourably. However, one must not see a reiteration of the ordeals of the society as mere tautologies because the problems would constantly be a fog to the future. Nigeria is a complex society and blessed with many resources, including resilient citizens who have shown commitment to hard work but have not been getting the proportional worth of their efforts. Every year, the version of suffering they face differs, and it seems that there are some temporal distinctions in the motivations of those ordeals. There is a systematic downfall in the economy, and those at the receiving end of its manifestation are the masses.
Well, some may say that it is too early to judge the government of Tinubu, but when starvation becomes a point of reference, we might just make an exception for that rule. A government is a failure if it has not been able to fulfill its primary duties and its published agenda. However, a government is useless if its people suffer endlessly from starvation. While it might be too early to judge the former, it is quite sure that he is failing terribly at the latter.
Recently, the video of a man who was caught in agony and lamentation attracted my attention. He was in the market to buy a “Congo” of rice but was told that it now costs 2,500 naira. The man started crying, lamenting the harsh condition and confused as to what he and his family would eat. He had just 1,800 naira with him, and God knows how much effort he had to put together to get that amount. Some of us tried to locate the man to give him some money.
Bodija market in Ibadan, Oyo State, has a reputation for cheap consumable commodities, and the cost of food products there is considered slightly reasonable. However, this reputation is no longer possible as basic commodities now cost even more than they could be imagined. What is more annoying is that the prices are not stable, and the progression of the increase has been concerning. A lady lamented having bought her usual loaf of bread for 800 naira 3 weeks ago, and within that period, it had skyrocketed from N100 to N1,200 and now at N1,500 for a loaf that is as light as a foam. Let me confirm to you that I visited the place in January to check the data. Thus, let no appointee of yours deceive you that things are being exaggerated.
Inflation in Nigeria hit 27.3 percent in November of 2023. The price increase was expected, but it seems that the progression of price increases for food items is at a higher rate than the supposed inflation. A recent report by the National Bureau of Statistics puts the inflation rate on food and consumables at 33%, but I am still convinced that the rates could have been underestimated. Several factors and reports have pointed to these unfortunate developments in the previous years. In October 2023, the Food and Agricultural Organisation predicted that about 5 million Nigerians would be afflicted by hunger by 2024.
Well, we probably thought that five million is a small percentage of our population of more than 200 million, but it seems that that prediction was not accurate as the effect of food inflation must have put more people at risk. Another stat by the World Food Programme states that 26.5 million Nigerians will be subjected to acute hunger before the end of the year. The United Nations’ Africa Regional Overview of Food Security and Nutrition noted that about 78 percent of Africans would not be able to afford nutritional or healthy food. There was also a prediction that States like Adamawa, Borno, Sokoto, Zamfara, Katsina, Kaduna, Sokoto, and Yobe would face more problems with food security in 2024.
President Tinubu, Garri has always been the best friend of the poor. It had always been one of the most affordable foodstuffs for even Nigerians who live below average. You could eat it the way you want. People experiencing poverty could leave some in water for a long while so that it would soak enough to share among everyone. They take some in the morning and come home to the rest in the evening. It is the hope of students when the end of semesters is close, and they have spent all their money running through the weeks. You could eat or drink it the way it is, add some sugar if you can afford it, or spray a bit of salt to just change the taste from the one you ate in the morning. You see, the present predicament of the people never got real until I realised that a “Congo” of Garri now costs between 700 naira to N1,200, depending on the place you are buying from and the type you have bought. This leaves me to wonder: what will the poor eat?
Beans are another food that has been saving people experiencing poverty. Although it takes longer to cook, it seems to last a while, especially when you combine it with Garri and mix it like you are mixing cement and sand. Students, especially in public universities, have the habit of making sure that aside from Garri, there are always grains of beans in their packs. They could cook beans with plenty of water to make it last. This is a similar habit of the poor. Unfortunately, the cost of a “congo” of beans has risen to between N1,500 and N2,200, depending on the location and type. Sir, please send your driver to check the prices.
It is not only the price of the common food that has risen; it is the same case for other staple foods. Today, a sachet of water costs around N50, and you barely see a bag of it at anything less than N300. This leaves the people to drink unclean well water or find their drinking water through other sources. I do not attempt to overstate the condition, but this is the reality on the streets, and it is hard to see any food item that has not skyrocketed in price by at least a 30% rate.
The economy is imploding and affecting the livelihood of individuals. One may ask for reasons behind the continuous increase in these items. It is not rocket science to list out several of the reasons. To mention but a few, the cost of transportation and distribution of food items from across the country has become very difficult. First, the excessive price of petrol within the range of N590 to N660 across the nation has an impact on the final prices.
In addition, the roads have become outrageously insecure, with different stories of kidnapping, highway attacks, terrorism, and other vices. These have jointly jacked up the calculative cost of production, and the masses are paying heavily for it.
In addition, the above reasons affect business, and most importantly, the incessant supply of power has become another foundational cause of the hike in prices. Today, many small and medium-scale businesses do not have access to a stable power supply, and in some cases, the tariffs have been so outrageous that the proportion of them and the profits per product are discouraging. They, therefore, resort to generating their power, which causes another extra cost. The result is that the products keep increasing in price as the costs skyrocket.
Another factor is the decline of the value of naira to dollars. The dollar is the major currency for international trade, and many of the household items in the country are imported. This means that the prices of those commodities in Nigeria are expected to increase with the value of dollars, causing difficulties for the citizens. So, when a market woman insults you for negotiating lower prices for her wares, it is not because she is merely disrespectful but because she believes you are ignorant of the costs of putting her products on the markets.
I keep wondering, if things are this extremely expensive, what will the poor eat? What would N30,000 minimum wage do in the current economy? How many would start dropping dead on the roads? How long would Nigerians trek because they could not afford the fare? How many would commit suicide? What will the poor eat? There is almost no average-class individual in the country as the condition affects every social stratification.
One of the very steps to take in ensuring that the prices of things are favorable, at least food products, is to ensure that there is an increase in local production of food items compared to the rate of importation. As of November 2023, Nigeria imports, officially, about 2.1 million metric tons of rice yearly, making it the top buyer of rice globally. You could wonder that if Nigeria is said to have fertile land for farming and farmers ready to farm, why does the nation need to import that much, considering the decline in the value of naira globally? Nigeria produces about 8.4 million tons of local rice, but it is still not sufficient for consumption in the country.
The Buhari administration created policies that would discourage the importation of rice and some other products in Nigeria in a bid to encourage local production. Unfortunately, this development made the price of local rice increase by 200 percent. Currently, the prices of local and foreign rice are not too far from each other. This is because the price gap that would have been made necessary has been reduced by other local and internal issues militating against local productions. It means that the government must make efforts to first increase the productivity of local items as well as ensure that there is an unhindered channel of distribution of the same across the country.
It is important to also note that the nation has not been putting much focus on the role of state governments and other political leaders aside from the federal government. Agricultural schemes and strategies are not the sole work of the Federal Government, as eradication of poverty should be the watchword of every reasonable government. State-wide agricultural strategies and blueprints that would reduce the propensity of hunger and starvation in each state are important.
Understandably, many state governments make efforts to build infrastructure that would be legacies for many years; however, when states make efforts to reach self-sustainability in the production of agricultural products, it would reduce the cost of transportation and boost the local economy. Poverty cannot be eradicated without collaborative efforts between the Federal Government and the State Governments.
When actions are not taken, and attention is not directed to starvation in the country, the country must be ready for the negative repercussions of the same. It is only logical that hungry people become desperate and desperate people become prone to committing crimes. This is partly the logic behind the proliferation of crimes in Nigeria and the rate of kidnapping in the past few months. Recently, the kidnappers have been asking for food items alongside the ransoms demanded. The adopters of the December 28, 2023, Abuja kidnapping victims requested “bags of rice, packs of Indomie, cough syrups, antibiotics, bedsheets, and cardigans” alongside 290 million naira. A similar incident happened in September 2023. Other manifestations of this hardship are seen in an increase in armed robbery and other social vices. When a man is seen stealing a cup of rice, it would be illogical to arrest or punish the person; it is only hunger that would have made a person do such.
Hunger is in the land, and it is affecting the masses; everyone must act. Where you have abundance, ensure you help others, and when you need, ensure you ask reasonably. If the rich or those who are comfortable do not help, they will all end up being victims of the consequences. The danger of starvation knocks, and it has everyone’s addresses. Nigerians are starving.
UK Spent Over £300m On Security In Africa In 2023 – Minister
The UK Government invested more than £300 million in delivering programmes and peacekeeping to bolster African nations’ stability and security last year, to the benefit of people in Africa and the UK.
Minister of State in the UK Cabinet Office, Baroness Lucy Neville-Rolfe DBE CMG, who is in Nigeria to cement the UK-Nigeria partnership, disclosed this in a statement by Atinuke Akande-Alegbe, Senior Communications & Public Diplomacy Officer of the Foreign Commonwealth and Development Office (FCDO), Abuja.
The visit comes days after the UK-Nigeria Security and Defence Partnership talks where the two countries reached agreements on cybersecurity, defence cooperation, counter-terrorism, human rights and civil-military cooperation.
As part of the investment, more than £15 million went to strengthening Nigeria’s security which, as a result of the UK’s direct support, benefitted Nigerian and British nationals by detecting and seizing more than 3 tonnes of illegal drugs.
In North Eastern Nigeria, UK funding has also helped more than 500 people fleeing violent groups re-settle into communities. It supported vocational training, religious counselling, psycho-social support, drug counselling and numeracy and literacy lessons.
The UK and Nigeria’s cooperation on regional threats to stability included the contribution from the UK to UN efforts to stabilise communities in the Lake Chad Basin after a decade of violence by extremist groups.
Almost 11 million people across Nigeria, Cameroon, Chad and Niger have been affected by this violence.
Neville-Rolfe was quoted as saying: “The United Kingdom and Nigeria are firm security and economic partners. I am proud that, through the CSSF, the UK has been able to play such a valuable role in bolstering Nigeria’s security.
“Investment in Nigeria and the broader region has been instrumental in tackling some important challenges, from drug smuggling to cybercrime and human displacement. These challenges are transnational, so by supporting our partners in Nigeria and West Africa we are also helping to safeguard people in the UK.
“Closer collaboration is vital in ensuring we can respond to threats and promote a free, open, peaceful and secure cyberspace, which is why the UK and Nigeria recently committed to working more closely together to tackle cybercrime.
“As the largest economy in Africa, Nigeria’s stability and security are vital to the security of the wider region and the UK. I look forward to our partnership strengthening as we continue to work together on shared challenges in the years ahead.”
The British High Commission to Nigeria, Dr. Richard Montgomery, said the UK would remain a committed friend, working with the Nigerian government to respond effectively to domestic and regional security challenges.
“The UK’s Conflict, Security, and Stability Fund offers practical assistance that is making a real difference in Nigeria, from tackling human traffickers to supporting the resettlement of people fleeing violent groups in the northeast of the country. The UK is proud to stand with Nigeria as a close partner in these endeavours.”
[DailyTrust]
Economic hardship: ‘I don’t know why South East is quiet’ – Ex-NHIS boss, Yusuf
Professor Usman Yusuf, former Executive Secretary, National Health Insurance Scheme, NHIS, on Saturday, said he is surprised the South Eastern part of the country has remained quiet amid the worsening economic hardship facing the country.
This is even as he urged the President to buy food, flood the market and feed the people before things get too late.
Yusuf made this known on Saturday while fielding questions on Arise Television’s Morning Show programme.
DAILY POST reports that there have been agitations against the increasing hunger in some parts of the country, most of them from the south west and northern part of the country.
However, Yusuf found it surprising that the South East has remained calm.
He said: “I honestly don’t know why the South East is quiet, uncharacteristically quiet. But the President needs to find out. The North is where I know I live; even my heritage is. The silence in the North is more lethal than anywhere else in the country. And the President needs to listen to that.
“The silence in the North, from the people of the North in spite of the suffering people are going through, is more lethal than people coming out.
“We are going into the month of Ramadan, people are going to pray. We ask the President to buy food, flood the market and feed the people before things get too late.
“The whole country is suffering. There’s hunger in the land. We hope you listen. Don’t listen to your advisers. Bring a whole lot of money for food, don’t wait for the governors.”
[DailyPost]
2Baba, Rivers prime suspect feared dead in major joint operation
Amajor security raid in Rivers state spearheaded by the police has reportedly led to the killing of the notorious cult leader, Gift Okpara, aka 2Baba, the prime suspect in the brutal murder of a former Divisional Police Officer, SP Bako Angbashim.
The police and other security agencies were said to have coordinated a land and aerial raid simultaneously at the identified hideout of the Iceland cult leader and his gang in Idu-Ekpeye in Ahoada East local government area of the state on Saturday afternoon with 2Baba feared dead after the operation.
Angbashim was ambushed and captured by 2Baba’s gang in Odiemudie community, Ahoada East LGA of the State in September 2023.
The DPO was taken into the forest where he was killed and his body dismembered and filmed by the cultists.
A senior police source, who spoke in confidence, disclosed that 2Baba was hit many times during the raid.
He said: “2Baba was hit severally with bullets alongside some of his loyalists.
“2Baba fell flat on the ground, but some of his boys quickly took him away. The police is still moving in to get his corpse.”
Another source, who identified himself as Obi, said he saw almost 15 vehicles and an Armored Personnel Carrier (APC) during the raid.
Though there was no official confirmation about the killing of 2Baba, the entire communities in Ahoada, were said to be thrown into jubilation following reports that the notorious cult leader was feared dead.
The indigens were particularly heaped praises on the state Commissioner of Police CP. Olatunji Disu, for his relentless efforts to stop terrorism in the area.
When contacted spokesperson of the State Police Command, Grace Iringe-Koko promised to get a feedback on the development.
Details later...
[TheNation]
I spend one-fifth of my salary on water monthly, law professor laments
A Professor of Law at the University of Nigeria, Nsukka, Joy Ezeilo, has lamented the depreciation of her salary’s purchasing power coupled with inflation, stating that it costs her up to one-fifth of her salary to buy water for her compound monthly.
Ezeilo revealed this on her X handle on Saturday, adding that the N1m proposed minimum wage by the Nigeria Labour Congress “is not a laughing matter to be dismissed by wave of hand.”
She wrote, “The fast depreciating purchasing power of my hard-earned salary, the devalued Naira, and the creeping inflation: I just discovered by purchasing water today that my monthly salary can only pay for a limited quantity of water supply.
“I spent N40,000 for a water tanker one trip load (about 2,800 gallons) this evening in Enugu.
“Talk about price fixing. We bought previously the first week of February for N35,000. Of course, the driver said the cost of diesel drives the price. The ultimate buyer bears the brunt.
“We need at least two tankers for one month at N80,000, which would have taken one-fifth of my professorial cadre salary in a federal university.
“At this rate, just water without food, electricity, transportation, generator fueling, house rent, school fees, health care, etc., one can see that the N1m being proposed as minimum wage by the Labour Union is not a laughing matter to be dismissed by wave of hand.
“It increasingly appears either realistic or may need to be more.
“Which way, Nigeria? I can only hum Sonny Okosun’s (1984 – Which Way Nigeria) and Majek Fashek’s (Send Down the Rain!) songs as I silently pray for reprieve and an urgent economic solution so Nigerians can breathe well.”
PUNCH Online had reported on February 10 that Ezeilo lamented how she would need to save five months of her salary as a Professor of Law on the last professional step to buy a return ticket to a West African country.
She stated this while expressing her dream of watching the final of the African Cup of Nations live in Cote D’Ivoire but was shocked after her travel agent of over 20 years told her the price of the ticket was estimated at over N2.1m.
[Punch]
SERAP gives NNPCL 7 days to account for ‘missing $2.04bn, N164bn oil revenues’
Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Mele Kolo Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited to “promptly account for and explain the whereabouts of the alleged missing USD$2.04 billion and N164 billion oil revenues.”
SERAP said the allegations are documented in the latest annual report recently published by the Auditor-General of the Federation.
SERAP urged Mr Kyari “to name and shame those responsible for the disappeared oil money, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies, as provided for under paragraph 3112(ii) of the Financial Regulations 2009, and recommended by the Auditor-General.”
SERAP also urged him “to ensure the full recovery and remittance of the missing USD$2.04 billion and N164 billion into the Federation Account without further delay.”
In the letter dated 17 February 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “The missing oil revenues have further damaged the already precarious economy in the country and contributed to very high levels of deficit spending by the government.”
SERAP said, “Without the full recovery and remittance of the missing USD$2.04 billion and N164 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.”
According to SERAP, “the Auditor-General has for many years documented reports of disappearance of public funds from the NNPC. Nigerians continue to bear the brunt of these missing oil revenues.”
The letter, read in part: “The alleged missing oil revenues reflect a failure of NNPCL accountability more generally and are directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability.”
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest.”
“Had the NNPCL and its subsidiaries accounted for and remitted the disappeared public funds into the Federation Account, it is likely that more funds would have been allocated to the fulfillment of economic and social rights, such as increased spending on public goods and services.”
“The missing oil revenues have also impeded Nigerians’ ability to enjoy their economic and social rights, and denied them access to essential public goods and services, especially at the time of cost of living crisis in the country.”
“Explaining the whereabouts of the missing public funds, naming and shaming those suspected to be responsible and ensuring that suspected perpetrators are brought to justice and the full recovery of any missing public funds would serve the public interest and end the impunity of perpetrators.”
“Nigerians have the right to know the whereabouts of the disappeared oil money. Ensuring transparency and accountability in the management of oil revenues would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.”
“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation (NNPC) failed to remit over USD$2 billion and N164 billion oil revenues into the Federation Account.”
“The Auditor-General fears that the money may have been diverted into private pockets, denying the government the funding needed to carry out its activities.”
“The NNPCL reportedly failed and/or refused to remit N151,121,999,966. The NNPCL without any justification deducted the money from the oil royalties assessed for 2020 by the Department of Petroleum Resources (DPR) now Nigerian Upstream Petroleum Regulatory Commission (NUPRC).”
“The NNPCL has failed to account for the missing public funds. The Auditor-General wants the money recovered and remitted into the Federation Account.”
“The NNPCL also failed to remit USD$19,774,488.15 collected as government revenue into the Federation Account. The Auditor-General wants the NNPCL to account for the money, recover and remit it into the Federation Account, and to hand over those suspected to be involved to the ICPC and the EFCC.”
“The Nigerian Petroleum Development Company (NPDC) Ltd also reportedly failed to account for USD$2,021,411,877.47 and N13,313,565,786.49 of royalties collected from crude oil and gas sales and gas flare.”
“The Auditor-General wants the public funds fully recovered and remitted into the Federation Account and for those suspected to be responsible for the missing public funds to be handed over to the ICPC and the EFCC.”
“These grim allegations by the Auditor-General suggest a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s obligations under the UN Convention against Corruption.”
“The allegations have undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities.”
“SERAP is concerned that despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators.”
“Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”
“SERAP notes that Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions to abolish all corrupt practices and abuse of power.”
“Section 16(2) of the Nigerian Constitution further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”
“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the constitution.”
“Paragraph 3112(ii) of the he Financial Regulations 2009 provides that, ‘Where a public officer fails to account for government revenue, such officer shall be surcharged for the full amount involved and such officer shall be handled over to either the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and Other Related Offences Commission (ICPC).’”
“Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the NNPCL to ensure proper management of public affairs and public funds. These commitments ought to be fully upheld and respected.”
[Vanguard]
BUA increase staff salary by 50%
Chairman of BUA Group, Abdul Samad Rabiu, says the company has approved a 50 per cent salary increment for staff across board.
Rabiu made the disclosure in an internal memo signed on Sunday in Lagos by Mr Mohammed Wali, BUA’s Head of Human Resources.
The memo quoted BUA chairman as saying that the increment was to mitigate the impact of the economic hardship currently being faced in the country.
He said the salary increment would cover both permanent/regular and non-permanent staff with effect from Feb. 1, 2024.
“Sequel to the above development, the Human Resources and Finance departments are processing the increase to ensure that it is captured in the February 2024 payroll.
“It is hoped that with this magnanimous gesture, we will be more committed to our duties and put in our very best to justify the confidence reposed in us,” he said.
The News Agency of Nigeria (NAN) reports that due to the current economic conditions in the country, negotiations are ongoing between the organised labour and the government, for a new minimum wage.
NAN
[PRESS RELEASE] Tinubu's Administration Falls Short in Addressing Currency Fluctuation and Poverty Crises
At a meeting called at his instance on Thursday to address the Foreign Exchange crisis and the problem of economic downturn, among others, Bola Tinubu failed, yet again, to showcase any concrete policy steps that his administration is taking to contain the crises of currency fluctuation and poverty that face the country.
Rather, he told the country and experts who have been offering ideas on how to resolve the crisis that he and his team should not be distracted and allowed time to continue cooking their cocktail that has brought untold hardship to the people of Nigeria.
I don't agree with that.
The wrong policies of the Tinubu administration continue to cause untold pain and distress on the economy and the rest of us cannot keep quiet when, clearly, the government has demonstrated sufficient poverty of ideas to redeem the situation.
If the government will not hold on to their usual hubris, there are ways that the country can walk out of the current crisis.
After a careful assessment of the state of our economy at the twilights of the last administration, I knew full well that the economy of the country was heading for the ditch and came up with a number of policy prescriptions that would rescue the country from getting into the mess that we are currently in.
Those ideas, encapsulated in my policy document titled: My Covenant With Nigerians made the following prescriptions:
1. I had signed on to a commitment to reform the operation of the foreign exchange market. Specifically, there was a commitment to eliminate multiple exchange rate windows. The system only served to enrich opportunists, rent-seekers, middlemen, arbitrageurs, and fraudsters.
2. A fixed exchange rate system would be out of the question. First, it would not be in line with our philosophy of running an open, private sector friendly economy. Secondly, operating a successful fixed-exchange rate system would require sufficient FX reserves to defend the domestic currency at all times. But as is well known, Nigeria’s major challenge is the persistent FX illiquidity occasioned by limited foreign exchange inflows to the country. Without sufficient FX reserves, confidence in the Nigerian economy will remain low, and Naira will remain under pressure. The economy will have no firepower to support its currency. Besides, a fixed-exchange rate system is akin to running a subsidy regime!
3. On the other hand, given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged the Central Bank of Nigeria to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option. In simple terms, in such a system, the Naira may fluctuate daily, but the CBN will step in to control and stabilize its value. Such control will be exercised judiciously and responsibly, especially to curve speculative activities.
4. Why control, you may ask.
(i). Nigeria has insufficient, unstable, and precarious foreign reserves to support a free-floating rate regime. Nigeria’s reserves did not have enough foreign exchange that can be sold freely at fair market prices during crises.
(ii). Nigeria is not earning enough US$ from its sales of crude oil because its production of oil has been declining. And,
(iii). Nigeria is not attracting foreign investment in appreciable quantities.
These are enough reasons for Nigeria to seek to have a greater control of the market, at least in the short to medium term when convergence is expected to be achieved.
Tinubu’s new policy FX management policy was hurriedly put together without proper plans and consultations with stakeholders. The government failed to anticipate or downplayed the potential and real negative consequences of its actions.
The Government did not allow the CBN the independence to design and implement a sound FX Management Policy that would have dealt with such issues as increasing liquidity, curtailing/regulating demand, dealing with FX backlogs and rate convergence.
I firmly believe that if and when the Government is ready to open itself to sound counsels, as well as control internal bleedings occasioned by corruption and poorly negotiated foreign loans, the Nigerian economy would begin to find a footing again.
Atiku Abubakar
Vice President of Nigeria, 1999-2007.
18th February, 2024.
[PRESS STATEMENT] Insecurity: Let’s migrate from Constabulary Police to State Police - Okechukwu
As stakeholders in the country seek for a solution to the frightening insecurity in the country, a foundation member of the All Progressive Congress (APC), Osita Okechukwu has advocated the establishment of Constabulary Police Option in line with Sections 105 to 109 of the Nigeria Police Act 2020.
Okechukwu warned that state police could be abused by state governors, the same way they breached other democratic institutions, such as the judiciary, legislature and the local government system.
Speaking to journalists on Sunday on the decision of President Tinubu and State Governors to establish State Police, the immediate past Director General of Voice of Nigeria (VON) opined that it is far better to progressively migrate from Special Constabulary of Nigeria Police Force (NPF) to State Police, to avoid relying on decision taken amidst palpable grief.
He implored all to take time and peruse the NPF Act 2020 so as to examine the pure kernels and appreciate the content relevance of Constabulary Police and the imperative to overhaul the NPF in addressing the same gruesome insecurity we out of grief wittingly or unwittingly assume that State Police is one size which fits all.
Okechukwu pointed out that Special Constabulary is a Silver Bullet which will resolve the intense paradox of public paranoia against the NPF which failed to secure us and our Emperor Governors that have scant regard to the rule of law.
He said, " I agree that there is horrible and terrible grief in the land and that NPF itself needs rejig hence the imperative of urgent solution; however State Police in my considered view is politics of grievance, which outcome maybe be worse than the solution envisaged given the anti-democratic antecedents of the custodians of the sub-national units and poor financial status of some states.
“We all contributed in no small measure in escalating the insecurity and gross inequality in the first place and the solution cannot be carving out Kingdoms for Emperors. In sum, my recommendation is that the establishment of Special Constabulary, in line with Sections 105 to 109 of the Nigeria Police Act 2020; is a better solution and that of using one stone to kill two birds at once.” Okechukwu submitted.
All we need as a matter of urgent national importance at this hectic and trying period is well trained, and well equipped Special Constabulary with sophisticated arsenal to contain kidnappers, terrorists and insurgents, without authoritarian antics. This is especially when they will be recruited from indigenes of the given state in collaboration with the governors, albeit local community based with tiny Federal strings for necessary moderation.
“Whereas, one understood the metastasis of grief, helplessness, despair, despondency, and the sordid scenario of a country overwhelmed by insecurity; it will be less strategic in the midst of confusion to hastily throw away the baby and the bathe water.”
“For when careful consideration gazetted that majority of our dear governors are more or less akin to Emperors, who are constantly in the breach of fine democratic tenets and civil liberties, in addendum have stymied our local councils and have blatantly mangled State Judiciary and State Legislatures into rubber stamps; my dear countrymen, does it in all intents and purposes make altruistic sense to further empower Emperors?” Okechukwu quipped.
He therefore appeals for understanding as progressive migration from Special Constabulary to State Police by then our tempers must have calmed down and we all must have learnt to obey the 1999 Constitution of the Federal Republic of Nigeria.
[OPINION] Seventy Glorious Years of Fiditi Grammar School - Sola Omole
Like so many areas of our national life in Nigeria, education, particularly public sector education, especially the post primary level, has been buffeted by severe negative winds resulting in very poor output. The desire by parents for strong educational foundation for their children has led to the upsurge in the number of private schools at all levels across the country.
It was not always like this however. In the 50s, 60s and even into the early 70s, Nigeria could still boast of a high performing educational sector, particularly if one was thinking of the secondary education level.
One such high performing institution was Fiditi Grammar School. Founded in 1954, as a result of the zeal of the leading citizens of the small fruit town of Fiditi for the establishment of a qualitative secondary school in the town, it did not take long for the school to establish itself as a top tier secondary school.
Sola Omole, former NTA Director-General, is Chairman-Publicity & Publications Committee of the 70th anniversary
Some members of Fiditi Old Students Association
The early Principals and teachers were committed and focused on producing well rounded students in academics, sports and morals. Notable among these were an indigene of Fiditi and first Principal Chief Adebiyi Omowonuola Adeyi and Chief Alex Olu Ajayi from Ekiti State. He took over from Chief Adeyi who joined the government of western Nigeria under the leadership of Chief Obafemi Awolowo. The other prominent and long serving teacher and Principal was another indigene of Fiditi, Chief Deacon Solomon Ipadeola Ojelabi. These men, along with those who worked with them, created a high class academic and aesthetically pleasing environment.
As an example, Chief Alex Ajayi invited his friend, the budding and later globally recognized and famous poet Mr. Christopher Okigbo to teach in the school. Okigbo would go on to become the Vice Principal and sports master in the school. In those early days, Chief Ajayi would at various times invite academic members from the departments of Classics, Chemistry, Biology of the University College Ibadan to give lectures to students at Fiditi
Chief Ajayi remarked in some of his writings that this constant flow of intellectuals through Fiditi provided a most desirable and profitable interaction for the students and staff of Fiditi Grammar School. These were the beginnings of what would lead to teachers coming to the school courtesy of the Canadian Universities Services Overseas (CUSO) and the Voluntary Services Overseas (VSO of the UK). These teachers gave a proper grounding and educational foundation to the students. The results of these were to show in the educational attainment of the students and their after school vocational careers.
Creating an aesthetically beautiful and pleasing environment is an important part of ensuring that students were able to effectively engage and profit from the learning environment. Here is how an expatriate driving on the Ibadan-Oyo trunk A road passing in front of the school described it. She saw it as the most beautiful scene or spot in the south west of Nigeria… the green field is well maintained and distanced from traffic noise to allow students concentrate on their studies.
This was the environment created at Fiditi Grammar School which had students from Lagos, Ibadan, Ogbomosho,Igbeti, Iree, Abeokuta, Benin, Sabongida Ora, Oyo, Benin Republic, Jobele, Awe, Warri, Ijebu Ode, Port Harcourt, Yenagoa, Enugu, Kaduna, Kano and Fiditi itself. Students from these far flung locations learned to live together, socialize, assimilate one another’s cultural norms and background, we even spoke languages other than our own.
How did this school located in the small food and fruit belt of south western Nigeria, 24 miles away from the city of Ibadan and 9 miles from Oyo town gain the attention of parents and would be students from all these disparate and far flung cities mentioned above?
The duo of Alex Ajayi and Chris Okigbo determined to utilize sports as a magnet to attract students to Fiditi. So Chief Ajayi invited Teslimi “Thunder” Balogun to the school as a soccer coach. There were already soccer high fliers in the school. Among them were the Odegbami brothers who as a result of their soccer prowess were fondly called ‘Key to Soccer’ These were the older siblings of Segun Odegbami fondly called ‘Mathematical Odegbami by Radio Nigeria’s late football commentator Ernest Okonkwo.
The Fiditi Grammar School team carried out exploits in western Nigeria defeating all the schools in the area on the soccer pitch, including the 1959 winners of the Thermogene Cup, the Ahmaddiya College Agege. The Thermogene Cup was an all Nigeria Cup competition for full fledged grammar schools, which Fiditi was yet to be at the time. The same team beat the University College Ibadan first eleven by 12 goals to nil.
It was the same with athletics. The school boasted of stars in both the sprints and long distance races. Abiodun Okusanya aka Abbey Lincoln was a champion long distance runner. He represented Fiditi Grammar School in racing events across Western Nigeria and beyond. He was always a winner.
In the sprints, we had Latunbosun Popoola aka “Sahara” whose fluid movements aided by his stride frequency and stride length was a wonder to behold as he tore through the 100 and 200 meter races like a gazelle or a cheetah, bringing glory and fame to Fiditi. He was reported to have made, in 1962, the hundred meters dash in 10.9 seconds.
In 1965, Fiditi Grammar School had a relay quartet of Mufutau Ojikutu, Oladele Runsewe, Gboyega Jokotoye and Edward Oritsejafor.
These four guys put the fear of the Lord in the hearts of short distance or relay race runners not only in the Ibadan-Oyo axis, but also throughout the western region. These glorious accomplishments in the field of sports put the school in the hearts and minds of many parents and their children in the late 50s and 60s.
The founders and early administrators of the school had the desire to train students who would ultimately attain the commanding heights of various sectors of life in NIgeria. From the first set of 19 students presented for the West African School Certificate examination who all passed, Fiditi Grammar School had consistently recorded over 90% success rate at the WAEC exams.
As to the attainment of leading positions in both public and private sector service, a short review of some of those who passed through the school and where they have been and where some are today will reveal that the objective had indeed be achieved.
There is the eminent Senator Dr. Bode Olajumoke who entered the school in 1957. He ultimately achieved a PhD in Law from the Edinburgh University. A frontline politician, he led the Imeri Unity Group which tried to resolve the lingering crisis and division within the Yorubas of Western Nigeria. He ultimately ran for the office of President of the Federal Republic of Nigeria in 1998 under the banner of the then APP. A major contributor to many charitable causes across Nigeria, Senator Olajumoke was for 20 years the National President of the Fiditi Grammar School old students’ association (FIGSOSA)
There is Dr. Olatunde Oloko who was among the very first set of students admitted into the school in 1954. After a stellar academic career, the foundation of which was solidly laid at Fiditi, Dr Oloko went on to become a first class veterinary doctor with professional affiliation across many countries. Dr. Oloko is currently the Chairman of the Board of Trustees of FIGSOSA.
A former President of FIGSOSA who held office for about a decade is Engineer Lateef Busari. A top notch electronics and electrical engineer, Mr. Busari rose to become the General Manager of the Television Service of Oyo State
The current President of the old students’ association is Prof. Adesola Ogunniyi who turned 70 recently. He entered Fiditi Grammar School in 1966. He is today a world acclaimed professor of Neurology and a consultant Neurologist. He recently retired from the services of the UCH, Ibadan.
Prince ‘Lola Omojowolo, a retired public servant of the highest cadre entered Fiditi Grammar School in 1957. He became a graduate teacher in the School, joined the western Nigeria civil service, rising up to the position of a senior permanent secretary, topping his career with his appointment as a Commissioner in the Federal Civil Service Commission.
The 70th anniversary lecturer Professor Adekunle Akinyemi is the Chairman of Council of the Ibadan Polytechnic and an alumnus of Fiditi.
Professor Adejare Agboola, is a professor of Applied Botany at the university of agriculture Abeokuta, Prof. Olufemi Durosaro is of the University of Ilorin, while Professor Samson Omotosho teaches at the University of Phoenix, Arizona, USA. All three entered Fiditi in 1965, the same year as I did.
In 1971, Bridget Omotunde Sokan now Prof. Bridget Sokan entered Fiditi, passing out in flying colours in 1975. She went on to higher studies ultimately earning a doctorate in Guidance and Counseling. She served in different capacities in the education sector before being appointed Education Commissioner in Ogun State.
Fiditi Grammar School has also contributed to the development of Nigerian military and police.
Major General Kola Ogunkoya (rtd) was a one time Director General of the NYSC, while Admiral Segun Egbedina (rtd) was a former Commander NNS Aradu, a flag ship of the Nigerian Navy.
AIG Lanre Bankole, only a few months ago retired from the Nigeria Police Force after being Ogun State Commissioner and then Assistant Inspector General of Police.
Fiditi Grammar School is very proud of these old students who continue to work assiduously for the progress of the school.
With the full realization of the impact of Covid 19, technological advancement in diverse areas plus their consequences, especially against the background of aggressive development of artificial intelligence, FIGSOSA, led by Senator Bose Olajumoke, have initiated a skills acquisition center adjacent to Fiditi Grammar School. The centre will train school leavers, even those without a formal education, in various trades such as information technology and allied trades, carpentry, fashion design, catering and culinary skills among others. This initiative is being undertaken in the belief that blue or white collar jobs are fast disappearing and only those who can create and sustain personal entrepreneurial initiatives will survive in the unfolding global economy.
This Centre, to be commissioned by the Oyo State Governor Engr. Seyi Makinde, will be the highlight of the 70th anniversary of the founding of Fiditi Grammar School.
Sola Omole, former NTA Director-General, is Chairman-Publicity & Publications Committee of the 70th anniversary